it is 5:00 a.m. at cnbc. here is the top five at 5:00 a tuesday turn around. stocks slipping for the week, but one guest will play a video showing how volumeatile it can t and shares of robinhood giving back gains ahead of the open jetblue raises its offer again days ahead of the shareholder vote. nike slipping despite the

top and bottom line beats. later on, banks boost dividends after the green light from the fed reserve, but not everybody is joining the party. it is tuesday, june 28th this is "worldwide exchange" here on cnbc good morning, good afternoon or good evening welcome from wherever in the world you may be watching. i'm brian sullivan thanks for joining us. let's get to the market set up stocks are higher across the board. exactly like yesterday up exactly about the same this time yesterday .50% nasdaq up 70 we started higher and stocks ended lower. because of that, the s&p 500 remains on pace for its worst first half to a year since 1970.

more than 18% decline. communication services and consumer and tech and financials have all been selling off this year those groups of more than 20% below the recent 52-week highs they are all in a bear market. check out the chinese kweb up 15% this month and on peace for its best month in more than two years. we will get more on some of this rebound coming up in the rbi later in the show. checking on the bond market. on 10-year treasury at 3.22% in energy, oil is back on the rise by the way, a bizarre scene at the g7 in germany. emmanuel macron telling president biden all in front of cameras and hot microphones that the saudis and uae have no spare capacity to increase production right now and oil is back on the

rise to $111.15. we hope to get the clip for you later. in cryptocurrency, bitcoin tracking for the worst month in a year and ethereum since the pandemic struck in march of 2020. the single stock of the day is nike. shares are down. challenges like higher transportation costs and longer shipping times are all starting to weigh on margins. that stock down 2% now down more than 35% this year and more than 40% off the all-time high. we get more on nike with an analyst later on in the program. for now, let's get a check on the early trade in europe with the headlines with julianna tatelbaum in london. julianna, good morning >> brian, good morning here in europe, as you see, we have green for the most part nearly every region is trading

higher this morning. the cac 40 is up 1.4%. leading alongside spain and italy. dak in germany is up 0.9%. 1% gains for the ftse 100. a close eye on what is happening in the alps at the g7 to see if we get firm commitment around policy on oil from russia. we are keeping a close eye on centra today the forum there. and from the sector perspective in europe, out performance in pace ic basic resources. up 2.6%. that is off the strong session in asia overnight and the pboc pledge of monetary support to help the economy recover from covid lockdowns. on the down side, health care

and technology under performing. brian, fixed income. european yields ticked higher. this morning, all eyes on the ecb as they gather in portugal one line i bring from the ecb they intend to move on rates if there is uncertainty not afraid to go aggressively promptly in terms of rate hikes should inflation situation intensify. the 10-year bund at 3.6% brian. >> julianna, thank you very much let's get back to the top stories. including a lot of back and forth rumors and speculation about a deal for online trading platform robinhood silvana henao has more >> good morning, brian shares of robinhood on a wild ride giving back the sharp gains yesterday after ftx founder

downplayed the reports and exploring it may acquire the trading outfit in the statement to kate rooney, he says we are excited about the robinhood prospects. i have been impressed by the business that vlad and his team built. there are no active conversations with robinhood shares are down 77% in the past 12 hunmonths chinese get out and travel stocks surging in overnight asian trading. this on the easing of requirements for international arrivals authorities cutting quarantine times down to seven days for visitors wynn macau and sands are sharply higher and jetblue is boosting the

bid for spirit airlines. now proposing a $400 million breakup fee. up from $350 million jet blue says it would prepay 250 a share once investors approve the deal shareholders are set to vote on the cash and stock deal on thursday after the postponement earlier this month brian. >> all right there we go what a battle. phil lebeau has been reporting on this for months we have not seen a battle like this for years >> again >> yeah. >> for an airline. >> yeah. >> the spirit in the sky norman greenbaum would be happy. i have been listening to too much '70s the s&p 500 on track for the worst start to a year in 50 years.

speaking of the '70s the key is to think long stterm more than 18% drop this year and the ishares dividend is down 2%. among the etf is altria. joining us with a similar strategy is grace capital founder cate faddis. dividends will not negate your losses for the year. you will still be down but down less and paid a little bit to wait. what do you think about the dividend strategy for the markets? >> i think the dividend strategy works, brian it works for certain sectors because we are now in an inflationary environment this is something we haven't seen in 20 or 25 years what works in inflation?

you want things to inflate commodities. we like commodity dividend paying stocks. >> okay. listen, the market -- unless you are oil and gas or a few select others, you are probably down. it is a painful time and scary year worst market in 50 years i get that what are some of the concerns you are hearing from clients because we know that people and it is human nature, no blame, tend to sell at the exact worst moments. >> people sell the wrong moments. they're scared they lost 20% or 25% they don't want to lose more most of the clients near retirement age there are names that would help. rio tinto. $100 billion market cap. an iron/ore space.

aluminum copper largest exporter of seaborn salt the world could not exist without rio tinto. they do have a bad carbon footprint which is difficult 20% profit margins very strong balance sheet. here is one you can cheer on >> yeah. the other one with yyou like is cousin, if you will, of rio tinto. that is bhp. you will not please esg investors with these names we need to wean the world off fossil fuels and mining and whatever it may be which is a multidecade if not longer affair bhp. >> bhp is another one. $143 billion market cap. dividend yield 5.3%.

not as strong as rio tinto it is the largest mining company in the world headquartered in australia. 57% iron/ore petroleum at 8%. bhp understand they are getting out of the coal business they will sell to someone else someone private who will keep doing the coal never mind revenues are flat over the decade cyclical strong balance sheet profitable 20% free cash flow margins this is one if you want yields and concerned about inflation and some of the things we're seeing, these are names you have to think about >> it's hard to hear, but global coal production is at record highs. the world is using more coal

than ever before bhp will have to sell it off and it will make money and we will not hear about it and a private buyer will not reveal stats. rio tinto, bhp, dividend strategies cate faddis, love having you on. have a great day >> thank you, brian. you are very welcome we have a lot to do on tuesday when we come back. the g7 summit in germany did that summit accomplish anything and other pricing pressure putting the squeeze on nike. that stock down this year. could brighter days be ahead later on, there is always a bull market somewhere. we found it. the morning rbi has the world's hottest stock market envery busy hour still ahead wh "wex" returns right after this

♪♪ take the world by cloud. accenture let there be change.

welcome back president biden and his g7 counterparts wrapping up the fineal day in germany before heading to madrid. steve sedgwick is joining us from germany a rather bizarre moment and you are the oil guy. everything i learned, i learned from you where french president emmanuel macron running up and

interrupting president biden and talking about saudi and uae capacity i found the moment surreal it took us back to the staircase at opec headquarters >> reporter: yeah. you did not butcher the name that was a good pronunciation. 10 of 10 on that one what was the aim of the meeting to have unity over ukraine yes. they confirmed they have unity and will do whatever it takes to provide military and humanitarian and political support to ukraine it was always about alleviating concernsand cost of living cr crisis americans are paying $5 a gallon for gasoline and brits paying were they trying to alleviate that yes. a concept saying we will have a price cap on russian oil the problem is, they don't have a price cap on russian oil plan.

they have a concept. it is like having a concept car and you lift the hood, there is no engine. they have not worked out how it will work under the hood that is exactly what they have done with the price cap. don't take my word for it. i spoke to the executive director, the man responsible for energy policy or the iaea, he was in the meetings with biden and johnson and key players. he said they are working on the mechanism. he said he is providing the data they don't have a mechanism. what will the world oil market do it has gone on friday at 10 109.73 117.73 have they made it worse? it istypical of how the messages has gone here brian. >> it has to, steve, it is so bizarre. go online. it is hard to understand macron is speaking off mic

you can hear it. he has the french accent he is whispering to president biden. he runs up, the french president, excuse me, i have the message from the uae leader that the saudis and uae don't have a lot of spare oil capacity. that may be true or not be steve, what is shocking on to me is why is the french president delivering the message he is the opec messenger it was the most bizarre thing i have seen in a while jake sullivan, the national security adviser, says let's get out of here. the microphones are hot. what an odd scene. >> reporter: i agree i didn't know that actually the president of the oae and the saudi leader, the government, were close to macron on this

issue. i didn't know they would share messages and potentially pass on to the g7 and president biden. what could be one explanation from the macron point of view is saying to president biden, look, traditional sources in the middle east don't have much more spare capacity we need to look at other pr pro producers. that would be a different political can of worms then we are talking about iran and venezuela. those are both subject to sanctions because they have a different view on iran than the u.s. if you want more capacity from the traditional producers than the ones we have massive potential to export, you need to look at the regimes there and relationships with them and allow them -- i'm guessing here -- and say that's where we need to add up the capacity. >> you are not you are spot on. macron said he wants venezuela and iran to come back to the

market maybe with the message he is opening the door for more iranian and venezuelan crude maybe giving president biden a wink and nudge hey, america, you can probably pump another 1 million barrels a day. is america going to do its part? there was a lot of meaning wrapped up in that odd scene in schlos elmwar. >> reporter: i have been to g7s and g20s no doubt about it, the london one in 2009 with obama on the first trip and the pittsburgh trip later on in the year as well i think it was september of that year where he took over the mantle and the world coming together to save us from a financial crisis and pumps trillions. a lot have promised huge

communications everyone argues about the communication and what should be in it. it is very interesting for all of the viewers and you and i as journalists. we heard no contention of the communication and we have not seen it. those who spin past. it is like eating water. it is giving a very unsatisfactory taste to it i don't know if this meeting will be seen being long on rhetoric, but short on substance, i'm afraid. >> oh, pass the reisling i want to watch it down with the bavarian german water. steve sedgwick, it was the g4.5 when you started covering these. thank you, steve steve sedgwick pretty muc pretty much nothing getting down at g7. will he or won't he?

crypto sam bankman-freed will he or won't he? we'll cuexse when "worldwide exchange" returns after this

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frances rivera is in new york with that. >> good morning, brian 46 people all suspected migrants found dead in the back of the tractor-trailer in san antonio according to authorities, the discovery made in the outskirts of the city when the firefighter nearby heard a cry for help. in 100 degree temperatures, he opened the trailer and found people in agony from heat exhaustion in a surprising turn of events, the january 6th house committee added a last-minute hearing later today. the panel will present recently obtained evidence and received witness testimony. the committee said the remaining hearings would be pushed until july according to politico, cassidy hutchinson, an aide to mark meadows, will testify she provided testimony from the

inner circle from donald trump in the weeks leading up to the january 6th riots on the capitol. and serena williams will take on her opponent at 11:45 eastern. it is the first grand slam match in a year. she tore her hamstring in the first round of wimbledon last year you remember how emotional that was, brian everybody is watching to see when she takes to the court. >> 100% tuned in good luck to serena. frances, thank you very much. we have more to do here on "worldwide exchange. still ahead, are you frustrated that most u.s. stocks are headed lower? we get it. we'll show you one group that is on the way higher. it's not based here. it's the g.o.a.t get out and travel trade orwi ehainging it back when "wlddexcnge" returns right after this hybrid ork is h

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can a tuesday turn around take shape futures are higher once again, but will sellers come back in like they did on monday? nike down again as it sounds the alarm on the road ahead. we dig into the numbers. rumors of the robinhood deal rocking that stock crypto exchange is throwing cold water on it. more on that story and more on

this tuesday, june 28th. this is "worldwide exchange. welcome or welcome back. good tuesday morning i'm brian sullivan thanks for being with us 5:30 a.m. on the east coast. here is how the markets and your money look futures are higher across the board. almost exactly mirroring yesterday. dow futures up 194 nasdaq up 73. we looked like this yesterday. markets opened high er and sellers sold any pop and we ended down we will see what happens today fair value turning negative on the dow. the price of oil is back on the rise again in fact, above $110 a barrel you heard us reference it in the program. french president emmanuel macron

running up and telling president biden in front of cameras and hot microphones that the saudis and uae have no spare capacity to increase production here it is >> two things. i'm at the maximum what he claims second, he told me according us, saudis can increase a little bit. they don't have huge capacities. before six months' time. >> all right pause it there a lot to take away from that macron saying the saudis can add 150 to 170,000 barrels a day that's it. uae coming out later on and saying it is not they don't have spare capacity, but maybe they can't add more under the current opec deal. expectations, remember, president biden going to saudi arabia next month. maybe to see if they can pump

more oil this is a set-up for a disappointing scenario, perhaps, next month macron effectively relaying the message there is not a lot of middle east spare capacity to add. an odd scene we'll talk more about it coming up in "squawk box" in the next hour the biggest stock story from asia green arrows across the board and bullish buying this after china updated the covid-19 quarantine period cutting inbound visitors from three weeks to quote only ten days if you go and test positive for covid, don't worry you will not get locked up by authorities for three weeks. you'll only get locked up for ten days anyway, the chinese get out and travel, g.o.a.t. stocks, are surging on the news. wynn macau and sands china all sharply higher we will get more on chinese

stocks coming up in the morning r rbi in a couple of minutes. let's get to the top corporate stories. jpmorgan chase and citigroup announcing plans to keep dividends unchanged. all that after the stress test on the banks future capital requirements for the decision not to boost the dividend different story for bank of america and wells fargo and goldman sachs. they did boost dividends goldman with the biggest in the bunch today. 250 per share. oracle of omaha. berkshire hathaway buying 800,000 more shares of occi last week that raises the stake in occidental to 16.4% of shares.

they have more than doubled this year buffett is buying at a high price. rare are for him and cvs and rite aid are limiting the over-the-counter contraceptive pills in the wake of the roe v. wade ruling. citing spike in demand of pills for that decision. walgreens had a purchase limit on its web site. it said that was an error and it would soon be corrected. now to the morning's big money mover. nike nike did post better than expected sales and profit for the fourth quarter all thanks to higher demand and prices for sneakers and sportswear shares are down right now 2% on the down beat revenue forecast and pressure on profit margins let's talk about nike and where it has been and where it is going with aneesha sherman

good to have you back on the program. yet another case on wall street where the numbers look good and the guidance disappointed and around that is higher costs. what is your take away from nike's quarter >> so, look, a lot of caution expressed in guidance was priced in you see the after market price drop is not significant. i don't expect the stock to be down more than a percent this morning. the caution was around china it was priced in elsewhere this is the first time nike reported on it the last quarter was pr pre-lockdown the last precaution was north america. we know there is more promotional activity coming across the sector. what was different is that nike in past has been so optimistic by north america

what recession we don't see pull back in demand there was a slight change in tone last night with a little bit more caution that we're monitoring on the macro environment and look for opportunities to maximize potential. including return to higher markdowns than what we have seen over the last year which have been normally low. there is a little more caution on the tone for north america. most of the impact of north america and all of impact of china are already priced into the stock. >> okay. i was going to ask if they will raise the price. do they have pricing power to counter the higher margin costs, aneesha? >> yes great question they have done that. they started raising prices in q s 3 which was early in the spring. the recent quarter which is march to may timeframe they have not seen a pull back

in demand. they will do a little more through the end of the year, but it is important to note that nike is not doing double digit price increases like others in the sector they are cautious. they talking about low single digit price increases. they don't need to use prices to secure back margin they are looking at it as a way to offset the product cost and inflation in the price and cost base they are not looking at it as a way to offset flagging demand environment. >> do they have any surprises up their sleeve aneesha, i was quoting something you said maybe there is a secret new product or products that nike may be set to rollout. environmental play in a way. what do we know about this >> yeah. they did sort of preview and hint at a couple of things coming in the fall

the biggest of which is what they called huge innovation and apparel materials. they said it is not a knit or woven. it is made in a sustainable way without water or dyes which is huge in this industry. to produce products sustainably without the carbon footprint that most requires that is all they said. we would see the first of it if september. it is the signal of the product innovation and they wanted to emphasize despite the macro environment, they are still number one in the product environment. there is still more to come. >> bottom line, buy the stock. hold it for yourself and your kids longer term? >> agreed. i think a lot of the caution we heard today was priced into the price. we don't expect a big drop

today. you know, it sets them up well to do well through the rest of the year we remain a strong buy on the stock. >> in this market, down 2% is the new up. >> exactly. >> aneesha, thank you. coming up, your morning rbi. the bulls taking beijing a look how red hot stocks ve been in china. stick around bu u're r because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want —your team, ours or a mix of both. with the nation's largest ip network. from the most innovative company. bring on today with comcast business. powering possibilities.™

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all right. reminder all week here on cnbc we are live at the aspen ideas festival big interviews from the mountain town tune in today and this week. now to the recent robinhood data shares spiking in the close yesterday. crypto exchange ftx was exploring a possible buyout of robinhood. then robinhood shares gave it back after ftx founder sam bankman-freed said there are no active talks he added they are excited about the robinhood prospects and the potential ways ftx could partner with them. robinhood has declined to comment. last month, bankman-freed disclosed a 7% stake in robinhood. let's talk more about this with

tracy wang a talk of a deal and shares spikes bankman-freed says nope. i'm invested and love it what do you make as the crypto world turns soap opera >> good morning, brian thank you for having me. that is a great question so, you know, sam bankman-freed said he is interested in robinhood although there are currently no ongoing m & a talks. robinhood hasn't been approved by any offer sam has disclosed personally he has purchased a 7.6% stake in robinhood that was revealed last month. you know, i don't want to speak for sam or ftx, i don't know when he rolls out of bed or off his bean bag, he has similars

with elon musk and twitter and sam and robinhood. i want to add there are synergies with ftx and robinhood. ftx announced they would be, you know, expanding their platform in equities trading. the retail client base with ftx and robinhood. there are definitely some potential synergies there. >> rolling out of his bean bag in his bare feet in the bahamas. he is a mecurial guy, no question the business ability seems sound and robinhood trading lower than the amount of cash they have on the books. talk to us more about what ftx may want to be tr tracy, they are talking stock trading. it appears bankman-freed has bigger ambitions than just a

bahamas-based crypto exchange. >> certainly i think ftx has basically announced they want to be an all-in-one trading platform. currently crypto trading services they want the robinhood users base they want people to be able to go log on to their end and trade stocks i think customers don't want to have assets across multiple portfolios they don't want one for stocks and one for crypto i think that move makes sense for ftx. i think this type of -- if they were to enter into a partnership with robinhood, that makes sense. if you look at the playbook in the past 12 months, they are really going after the little guy and retail investigator. they did the larry david super

bowl commercial. they acquired the naming rights to the arena in miami. if you look at what they have been doing in the last 12 months, this is a robinhood partnership which may not be out of the question. another thing of ftx, the client base is very different from say a coinbase they started out as an exchange for traders. motto was built by traders for traders. the users of ftx are different they tend to be professional traders that use the platform 24/7 you tend to have larger accounts the type of demographics they going after with the potential robinhood partnership is very different. >> we'll see if something

happens. 7.5% stake is nothing to sneeze at tr tracy, thank you take care. on deck, speaking of crypto. the doctor is in jon najarian is here and he will talk about crypto and the bump of china stocks. if you don't realize this, the rbi is next and you will realize there is a bull market somewhere. just not here. we're back rightft ts. aerhi

welcome back a lot in store for investors today. first on the menu, you hear from tom barkin that will be followed by two pieces of data the april s&p and case-shiller home index then the consumer confidence at 10:00. and then fed speech from mary

daly and then the last-minute hearing for newly obtained evidence from the january 6th committee. and the random but interesting thing has to do with something that our friend jim cramer likes to say. there is always a bull market somewhere. he's right there is a big bull market happening right now in stocks. it is just not here in the u.s it is not in europe or latin america. the bull market is in china. it is raging if you have not been paying attention to chinese stocks, we don't blame you. it is hard to look past any news outside the covid zero policy. outside of that, stocks have been red hot look at the one-month moves. gains in the s&p or hang seng. the shanghai a shares and shenzhen shares up 14% you can hear something that is

random but interesting stock stats from the best performing shenzhen index are the more than 2,000 members, 59 are up 50% from the 52-week lows 151 double off their lows and an incredible 29 stocks have gained more than 200% off their lows they had time to get it done most of the 52-week lows came 52 weeks ago. all hitting in july and august for more of the big stocks wow. who are the best of the best in this big china stock bull run? two companies involved in stuff that is in the news here as well the second best performing stock in the shenzhen a index is dajin heavy industries they make towers for offshore

wind turbines. they will likely get a lot of business from america and europe as we build out our offshore capability sad we can't make it here. the top stock off its lows andon health it surged 909% off the lows of last year. any investor in china that timed it right has printed money what does andon health do? mobile medical solutions like infrared thermometers for covid testing. you can't make this up a sign of the times and a raging bull market in chinese stocks. random, but profitable, for investors there. let's dive into more on this with jon najarian. market rebellion co-founder and watching this move as well jon, a boom in china stocks has been insane. what's your take

>> brian, you already said it. the china a shares ashr, an etf tracks that. it has been on fire. they buy the upside calls in that for weeks they also have been buying the fxi and the kweb which is centered on internet names in china. they have been buying upside calls and rolling up and rolling up and rolling up. at least right now, brian, the bets continue to be rebound and stays on track rather than we've gone up this far and pull bac they are not doing that. they are betting higher and higher it makes sense with the reopening with the upside. you know what they say right now, they are not selling. >> the chinese government and their central bank is one of the few in the world that is stimulating. the rest of the world is getting

tighter. they are adding money to the economy. loosening up the fiscal and monetary policy. >> very much so. that's obviously having an impact on the shares much like some of the threats of tightening here have made our shares a little more nervous >> the risk there to your point is, jon, i imagine you would caution investigators and market rebellion clients to be careful. we're just one covid lockdown headline away from a big turn. i would imagine unless xi jinping decided i'm not going to care about covid anymore because i want my third term in november >> yeah, i do think that plays into it significantly, brian we both know in hong kong to celebrate the hando over from britain to china i think he is loathe to increase

and more likely to go softer on the lockdowns. the zero covid policy just has not worked out well for china. >> no, no it hasn't. jon, let's switch and talk about crypto robinhood. will they get bought by ftx? binance, another company they talked about 50 to 100 deals. their words, not mine. what do you make of binance and crypto >> that's right. we're seeing big upside speculation in a lot of the likely targets now, brian. riot block chain r-i-o-t. a lot of upside buying there that coincides with the story you talked about whether it is sam bankman-freed

at ftx or coinbase any of the companies that have cash available to them or credit, brian, i think those are the ones trying to buy competitors or verticals that could make their business better on the cheap right now i bet we see a lot of deals over the next two or three months >> the question is who is the winner long term is it better to stick with the biggest of the big right now if you are thinking of investing? >> yes, but i would say, for instance, riot block chain those companies, brian, if they get combined with a very big entity like binance or ftx, that means they will survive. the question is who gets the lifeline if they get the lifeline, they will be on the other side when

things are better for the entire industry they have been hit so hard with the idea that who will be the next celsius or luna that gets behind us and these can go back to work. >> hopefully nobody. we don't need another celsius or luna. >> no. >> everything else that's going on jon najarian, i appreciate your views. look at crypto and china bull market jon, thank you very much. that does it for us on "worldwide exchange. we will see you in 23 hours from now. same channel "squawk box" with rebecca quick and some guy named brian sullivan will join you from the midwest. stick around

good morning stock futures pointing to gains again, but are we in for another disappointing turn or something better we will show you what is moving. including nike and the banks crypto exchange ftx is downplaying the report it is considering buying robinhood we will show you the big pop from yesterday. scuttlebutt from the g7. emmanuel macron is talking about how to bring down oil prices and sending an opec message to president biden. we'll show you the odd hot mic moment on this tuesday, june 28th as "squawk box" begins right now. good